TORONTO, Sept. 9, 2021 /CNW/ - RBC Global Asset Management Inc. ("RBC GAM Inc.") today announced August mutual fund net sales of $1.95 billion. Long-term funds had net sales of $2.0 billion and money market funds had net redemptions of $43 million. Mutual fund assets under management increased by 2.2 per cent.
"Canadian investors continue to seek out solutions that offer diversification when building their portfolios, and the RBC Select Portfolios attracted over $1 billion in August," said Doug Coulter, President of RBC Global Asset Management Inc. "We also saw continued interest in our RBC Fixed Income Pools, which are multi-asset fixed income portfolios that offer diversification across global credit and currency markets. These pools, launched three years ago, surpassed $9 billion in total assets before the end of August."
Mutual fund sales results information is based on preliminary data from the Investment Funds Institute of Canada (IFIC) and only include Canadian prospectus qualified mutual funds.
Please consult your advisor and read the prospectus or Fund Facts document before investing. There may be commissions, trailing commissions, management fees and expenses associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated. RBC Funds, BlueBay Funds and PH&N Funds are offered by RBC GAM Inc. and distributed through authorized dealers in Canada. RBC GAM Inc. is a member of the RBC GAM group of companies and an indirect wholly owned subsidiary of Royal Bank of Canada.
About RBCRoyal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance. Our success comes from the 88,000+ employees who leverage their imaginations and insights to bring our vision, values and strategy to life so we can help our clients thrive and communities prosper. As Canada's biggest bank, and one of the largest in the world based on market capitalization, we have a diversified business model with a focus on innovation and providing exceptional experiences to our 17 million clients in Canada, the U.S. and 27 other countries. Learn more at rbc.com.
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About RBC Global Asset Management RBC Global Asset Management (RBC GAM) is the asset management division of Royal Bank of Canada (RBC) and includes money managers BlueBay Asset Management and Phillips, Hager & North Investment Management. RBC GAM is a provider of global investment management services and solutions to institutional, high-net-worth and individual investors through separate accounts, pooled funds, mutual funds, hedge funds, exchange-traded funds and specialty investment strategies. The RBC GAM group of companies manage approximately $580 billion in assets and have approximately 1,500 employees located across Canada, the United States, Europe and Asia.
SOURCE RBC Global Asset Management Inc.